CHURCHILL MANAGEMENT Corp Has $13.77 Million Stock Position in ServiceNow, Inc. (NYSE:NOW)

CHURCHILL MANAGEMENT Corp cut its holdings in shares of ServiceNow, Inc. (NYSE:NOW) by 1.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 12,991 shares of the information technology services provider’s stock after selling 247 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in ServiceNow were worth $13,772,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings in ServiceNow by 17.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 274,844 shares of the information technology services provider’s stock worth $216,207,000 after acquiring an additional 39,984 shares during the period. Sargent Investment Group LLC bought a new stake in ServiceNow in the second quarter valued at about $205,000. Bradley Foster & Sargent Inc. CT acquired a new position in ServiceNow in the second quarter valued at about $256,000. Wealth Alliance boosted its holdings in ServiceNow by 6.9% during the second quarter. Wealth Alliance now owns 949 shares of the information technology services provider’s stock worth $747,000 after buying an additional 61 shares during the last quarter. Finally, Andar Capital Management HK Ltd grew its position in shares of ServiceNow by 35.0% during the 2nd quarter. Andar Capital Management HK Ltd now owns 5,400 shares of the information technology services provider’s stock worth $4,248,000 after buying an additional 1,400 shares during the period. Institutional investors own 87.18% of the company’s stock.

ServiceNow Stock Performance

Shares of NOW stock opened at $1,054.99 on Thursday. The stock has a market cap of $217.33 billion, a P/E ratio of 164.07, a P/E/G ratio of 6.43 and a beta of 0.99. The company has a fifty day moving average price of $1,066.34 and a two-hundred day moving average price of $927.52. ServiceNow, Inc. has a one year low of $637.99 and a one year high of $1,157.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.13 and a quick ratio of 1.13.

ServiceNow (NYSE:NOW) last announced its quarterly earnings results on Wednesday, October 23rd. The information technology services provider reported $3.72 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.26. ServiceNow had a return on equity of 16.03% and a net margin of 12.77%. The firm had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.75 billion. During the same quarter in the previous year, the business earned $1.21 earnings per share. The business’s revenue was up 22.2% compared to the same quarter last year. As a group, equities analysts predict that ServiceNow, Inc. will post 7.07 EPS for the current year.

Insider Activity at ServiceNow

In related news, insider Jacqueline P. Canney sold 76 shares of ServiceNow stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $1,010.94, for a total transaction of $76,831.44. Following the completion of the sale, the insider now directly owns 3,027 shares of the company’s stock, valued at approximately $3,060,115.38. This trade represents a 2.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William R. Mcdermott sold 12,271 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $997.67, for a total transaction of $12,242,408.57. Following the transaction, the chief executive officer now directly owns 2,595 shares in the company, valued at approximately $2,588,953.65. This represents a 82.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,276 shares of company stock worth $20,535,115. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of ServiceNow from $980.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. StockNews.com raised shares of ServiceNow from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Citigroup raised their price objective on ServiceNow from $1,068.00 to $1,071.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Oppenheimer boosted their target price on ServiceNow from $1,020.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, BMO Capital Markets raised their price target on ServiceNow from $860.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,071.39.

About ServiceNow

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.